Finally found the house of your dreams? But wait… you rejected the offer just because the walls in the house were full of wallpaper covering and the homeowner had painted over it. Frustrating isn’t it? It’s like the homeowner wanted you to suffer after you bought the house.
Sellers usually do this when they are not willing to spend more time and money on staging your Oakland County home. However, you still think to yourself, “Why would someone do this?”
- They found it a quick fix (saves a lot on staging, so they probably wanted to save time on peeling off the wallpaper)
- Painting was much easier than dealing with the glue residue
- Some crazy YouTube video assured them that this was a great idea
- They were afraid that there might be cracks under the wallpaper, which would mean caulking the holes to prevent any foundation damage
- They had no idea that painting over wallpaper would cause a huge problem for the next homeowner
Better stop scratching your head to figure out why the seller would do this to you! They just didn’t have the right information before making this move.
How Does Paint Affect the Wallpaper?
Since you don’t know what type of wallpaper and paint the seller used, there’s no saying how your DIY repair tricks will work on this particular type of project. A number of things can happen, such as:
- The paint slowly starts to crumble
- Patterns on the wallpaper are lightly reflected through the paint
- Bubbles start to form on the wall and the edges curl away from the corner
- The wallpaper loses its glue and starts to fall off
- With time, the wallpaper became stiffer and thicker, making it more difficult for you to remove it
How to Remove the Wallpaper
So, the process of removing the wallpaper covering is pretty easy. All you need is a scoring tool and a steam machine. Use the tool to punch holes in the wall that are just on the surface. Use the steam machine to blow in the warm air. This softens the glue and allows you to peel off the wallpaper easily with a scraping tool. It will take a couple of hours to remove the entire wallpaper. It depends on how it was applied— in strips or as one piece. Removing strips are way easier than the one piece as you can do this task on your own. The latter requires help— the wallpaper can be gripped from both ends and removed simultaneously.
You can rent a steam machine from any store and take on this challenge yourself. If the walls are made of plaster, you might only get a few scratches on it. However, if its drywall, be prepared with caulking material to patch up the cracks and holes. The latter wall material will create a lot of mess.
So, there you go… an easy peasy way to remove wallpaper covering when it has been painted on. If you want to buy a Oakland County, Michigan home, that falls under your budget and has all the features you need, then visit Homes2MoveYou. Get in touch with a me Tom Gilliam and start seeing houses in areas that you like.
Home Improvements to Avoid When Selling Your House
Home improvements a bang for your buck? Don’t go out just yet with your tool kit, expecting those YouTube DIY tricks to work out perfect. It rarely happens!
The problem is many sellers believe that taking on home improvement projects themselves will help them save on repairs and insurance. When you are targeting something major, first think about how much the repair or renovation will impact the value of your home for sale on Oakland County, Michigan.
Some projects yield high ROIs, which are easy to do on your own such as painting the interior, while others are difficult such as roof repairs and extensive plumbing installations. In the end, you might be looking at a costlier repair than the small patch that could have been fixed for $100 by a professional.
Even if you are making a new addition to the house, think long and hard before doing so. Do your research and make sure that the features you’re planning to add to your house are present in houses across the neighborhood. If they’re not, and you still proceed with your plans, you could potentially lose all your money.
Home Improvements May Wind Up Costing You In The Long Run
Here are a few such features that require extensive research before being added to mitigate risks of losses:
1. Swimming Pools
Unless the buyer demands a swimming pool and agrees to your asking price without demanding insurance for repairs, this improvement might work in your favor. An in-ground swimming pool can cost somewhere between $20,000 and $60,000. It might sound surprising but many rational homebuyers and investors might not prefer swimming pools due to the high maintenance costs involved.
Beautiful, right? High ROI? No! A sunroom does not even guarantee a 60% ROI. You will be better off building a deck in the backyard and furnishing it with chic furniture. The ROI on a deck is much higher and is an improvement that is loved by all buyers, especially those who have a big family.
3. Home Office
A home office is yet another feature you need to think about twice. You can never be sure that the next owner would be an entrepreneur or would use the space to work from home. A home office costs around $20,000 and rarely pays even half of the value on your home for sale on Oakland County, Michigan.
If you already have a garage, then don’t add extra space to it. The buyer might not want the extra space and can refuse the offer on the basis of it. Since, you will be adding a large margin to the asking price; buyers might not find it realistic.
5. Master Suite
This is an improvement you need to think on when you buy the house. How long do you plan to live in the house? More than 20 years? No? Then, you better stay away from this improvement. Master suit only promise a 40% on the sale of your house.
Keep the improvements to a minimum and limit them to the kitchen and bathroom because these are two rooms that are used the most. Before putting your home for sale on Oakland County, Michigan on the market, why not get it appraised by experts. Visit Homes2MoveYou now and get yourself a real estate agent like myself to help you every step of the way.
If you’re a homeowner, you know the to-do list is never ending. And, if you’re a buyer, you’ll know soon enough. That’s because, owning a home means maintaining a home. Proof of that can be seen in the fifth annual LightStream Home Improvement Survey. According to the results, 58 percent of surveyed homeowners say they’re planning to spend money on home improvement projects in 2018. And the number who said they plan on spending $35,000 or more has doubled from last year. But though there are more homeowners planning projects this year, the list of projects hasn’t changed all that much. Once again, outdoor upgrades remain the most popular, with decks, patios, and landscape projects topping the list. Kitchen and bathroom remodels, of course, also rank high, coming second and third on Americans’ home improvement, to-do list. So how are these homeowners planning on paying for all these upgrades and renovations? Well, the vast majority said they were paying for their projects out of savings. However, another way homeowners are saving on their home improvement bills is by doing, at least, some of the work themselves. Read More Here.
Home Improvement Mistakes To Avoid
Here are seven of the most common mistakes people make when they begin a remodeling project. Once you’re aware of them, you can work to avoid making the same mistakes on your own projects.
Don’t rush into any remodeling project. Think it through, decide what your priorities will be for the project, and come up with a good plan that you can follow. Revise this plan until it seems rock solid, and all your goals for the project will be met. Price out the work, and then try like crazy to stick to your plan, and your pricing. Of course, you should always expect the unexpected, but if you have a solid, realistic plan, hopefully that’ll keep the unexpected at a minimum.
Avoid choosing just any contractor
Don’t rush to choose a contractor, or choose the first one you talk to in order to get the work underway. Hey, we understand you’re excited at the prospect of beginning your remodeling project, but you could be making a costly mistake in both time and money if you don’t do your research first when it comes to a contractor. Talk to several contractors, and check each reference. Talk to people in the town you live in that have had remodeling done in the past year or so. Ask for referrals. Check with your local Better Business Bureau to see if the contractors have complaints (and take these complaints with a grain of salt). Be absolutely certain that the contractor you choose has insurance in place. Choose a contractor that you like as a person, and that you feel comfortable communicating with. And of course, get everything in writing.
Avoid undershooting your budget
Be realistic about the budget you create for the project. Leave yourself quite a bit of wiggle room when it comes to dollar amounts allocated for specific parts of the project. Whatever budget you already have in mind – you should increase by 20% in order to give yourself the necessary cushion if something doesn’t go as planned and goes over budget. There are things you just can’t foresee, and those are the things that will break the bank if you don’t anticipate them ahead of time. The last thing you need is to have to skimp on important parts of your remodeling project because something happened that used up funds.
Avoid being too cheap
You are not going to “save” money in a remodeling project, so get it right out of your head. This isn’t the time to nickel and dime your way around spending money. Consider the future appeal of the work to be done and how it might affect the selling price of your home. Consider the enjoyment with which you’ll enjoy the remodel if it’s done properly without trying to penny-pinch. This also comes into play for do-it-yourselfers who think that they can save money by doing the remodeling themselves. If it’s something you are capable of and skilled enough to do correctly, then go for it! But if it’s not, you’ll spend more money fixing it than you would have by simply hiring a professional in the first place.
Avoid breaking the bank on materials
Over-spending on materials is a no-no. Again, this happens largely because of lack of planning, and the homeowner feeling rushed to get the job done. So plan ahead – look for sales at home improvement stores, and definitely keep your eyes peeled at garage sales, moving sales, flea markets, and estate sales for materials you may need. Also look for salvage stores, and call around to different materials companies who may offer you “seconds” that they can’t use or sell at a deep discount. Note that this isn’t the same as the penny-pinching we mentioned in tip number 4. This is simply smart buying of materials that are going to work exactly the same as “brand new” materials would, but at a fraction of the cost.
Avoid being too different
Creating a home that doesn’t harmonize with your neighborhood is always a huge mistake. It’s one thing to be unique, but it’s another thing altogether to lower the neighborhood’s value because you want to be different. Your home’s resale value will be less, as will the resale value of the homes around yours, if your home sticks out like a sore thumb.
Avoid losing sight of your plan
Once you have created your realistic remodeling project plan, stick with that plan. If you begin changing your mind about things, that’s when the price tag starts to go higher and higher. Listen to suggestions from your remodeling team, but always keep your goals for the remodeling project at the forefront of your mind.
Oakland County MORTGAGE PAYOFF: Five For & Three Against
Do you dream of the day when you mail your last mortgage payment in Oakland County to your lender? Do you wish for a day when you are mortgage-free?
Well, your dreams might be misplaced.
Paying off that loan early—if you have the extra dollars—seems to make sense, especially if you have other plans for your money. Yes, you absolutely should make your mortgage payments on time each month with the goal of one day eliminating these payments entirely. But paying off your mortgage loan early? That might not make the most financial sense, even if you have the funds available to pay off your 30-year or 15-year mortgage loan before it reaches the natural end of its life.
Here are three reasons why paying off your Oakland County home loan months or years early might not be the right move for you.
You have high credit-card debt: Mortgage debt has a key advantage over other forms of debt: low interest rates. The same can’t be said of credit-card debt, which can come with sky-high interest rates. It’s not unusual for consumers to have credit-card debt that comes with interest rates of 15-20% or higher. If you are burdened with high levels of credit-card debt, it makes more financial sense to pay off your credit cards before you use your extra money to pay off your mortgage loan early. Take any extra dollars to pay down the debt that comes with the highest interest rates.
You need that tax deduction: Having a mortgage loan comes in handy at tax time, when you can deduct the interest that you paid on your mortgage throughout the previous year. The IRS allows you to deduct the interest paid on up to $1 million worth of mortgage debt, and you can take this deduction for both a primary residence and a second home. You can also deduct the interest on up to $100,000 worth of home-equity loans. This holds true even if you didn’t use your home-equity loan to make any home improvements. If you pay off your mortgage loan early, this tax advantage will disappear. This can be a painful out-of-pocket experience, especially if you work as an independent contractor or on a freelance basis. That mortgage-interest tax deduction can help soften the blow come income-tax time.
You need to save for retirement: If you’re not contributing the maximum to your retirement plans, it makes sense to take the money you might use to pay off your mortgage loan early and instead boost your retirement savings. People are living longer today. They need, then, to save more money to ensure a retirement that isn’t ruined by financial stress. Unfortunately, financial surveys show that a majority of people approaching retirement have not saved enough for their after-work years. You can avoid this trap. Consider paying off your mortgage loan early only if you are already contributing the maximum amount of dollars to your IRA or 401(k) plan.
Here are five reasons why paying off your Oakland County home loan months or years early might be the right move for you.
Paying Off Your Mortgage Faster
Paying off your mortgage is one of the biggest financial goals of most homeowners, and retiring debt-free can certainly give your golden years a greater sense of financial freedom and stability. Whether you’re nearing retirement age or are just looking to reduce your largest debt load more quickly, here are some great tips for paying off your mortgage faster!
Principal Versus Interest
Essentially, to pay off your mortgage you have to reduce the principal owing on your property. There are really two ways you can do this without dramatically reducing your monthly budget.
Increase Your Monthly Payments
Even increasing your monthly payments by a small amount can take years off the life of your mortgage. You can also choose an accelerated plan whereby you can make weekly or biweekly payments rather than monthly. This will allow you to make a few extra payments each year. Combining these efforts can really have a surprising effect on the principal of your mortgage over a short period of time. There are a number of free online calculators that can help you figure out the exact numbers for your particular situation.
Reduce Your Interest Rate
If increasing your monthly payments is not an option, you can still pay off your mortgage faster by refinancing your mortgage to negotiate a lower rate. Keep your eye on the financial markets to gauge the best time to make this move, and seek out the advice of a REALTOR® or financial advisor to confirm that this is a viable option for your current financial situation. If you have a good history of payment and an excellent credit score, finding a lender shouldn’t be a problem.
Make A Lump Sum Payment On Your Mortgage
Another way you can decrease your mortgage principal and pay off your mortgage faster is by making a large lump sum payment. If you have come into extra money, have received a large income tax return, or just have a considerable amount of savings, this may be a wise financial decision. It will also dramatically decrease the amount of interest you will pay over the life of your mortgage and thus save you money. Just be sure your mortgage does not include a clause that will penalize you, and then determine whether it is still a good choice before going ahead.
The satisfaction a homeowner feels when they make that last mortgage payment is really unmatched by any other financial achievement, and following these simple steps can more quickly make that dream a reality.